Professor Rebeccah Heinrichs appeared on Fox Business on March 18 to address the Saudi Arabia-Russia price war that is unfolding in the oil market.
In her March 18 appearance, Professor Heinrichs analyzed the recent actions of Saudi Arabia to tank oil prices from the Russian perspective. The Saudi-led OPEC sought to stabilize oil prices amidst changing demand, partially from the spread of coronavirus. She stated that “the Russians want to be seen as a global power-broker; they didn’t want to be taking direction from the Saudis.” The Saudis’ recent actions are retaliation for Russia’s lack of cooperation. The goal, Heinrichs said, is to punish the Russians enough that they fall back into line with Saudi directions. Russia claims it can withstand lower prices for many years. Heinrichs disputed this claim, saying that the Russians “overplay their hand” frequently. She concluded by expressing hope that this price war “drives a wedge between the Saudis and the Russians.”
At IWP, Professor Heinrichs teaches a course on Nuclear Deterrence and Arms Control.